If you're wanting to add some lithium exposure to your portfolio, then it could be worth checking out the three ASX lithium shares listed below. That's because they have been named as buys with major upside potential.
Here's what analysts are saying about them:
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Azure Minerals Ltd (ASX: AZS)
Azure Minerals is the 60% owner of the highly regarded Andover lithium project in Western Australia. Analysts at Bell Potter believe it could be an ASX lithium share to buy.
In fact, its analysts "think it's undervalued given the clear upside that Andover could support a Tier-1 mining operation, in the Tier-1 mining jurisdiction of Western Australia."
Bell Potter has a speculative buy rating and a $3 price target on the company's shares. This implies a potential upside of 61% for investors over the next 12 months.
Core Lithium Ltd (ASX: CXO)
Analysts at Macquarie remain positive on this ASX lithium share.
And while the broker doesn't expect Core Lithium's Finniss project to reach full production until FY 2027, it still sees plenty of value in its shares at the current level.
In light of this, the broker retained its outperform rating with a reduced price target of 90 cents this week. Based on the current Core Lithium share price of 66 cents, this suggests a potential upside of 36% for investors.
Delta Lithium Ltd (ASX: DLI)
Delta Lithium owns two lithium projects in Western Australia – Mt Ida and Yinnetharra. Bell Potter believes these promising projects make it an ASX lithium share to buy for investors with a higher risk tolerance.
Its analysts highlight that "Yinnetharra exploration results, and commentary, point to the potential of the project to host a second, larger, resource and mining operation."
The broker has a speculative buy rating and a $1.35 price target on its shares. This implies a potential upside of over 50% for investors between now and this time next year.
